Even though the scalping strategy has various advantages for some Saudi forex traders, there are always drawbacks, and you must know those drawbacks before you decide to use a scalping strategy on your trading. Additionally, if you want to make the right forex broker choice, you can go to http://www.Saudiforex.pro/en/saudi/ and find reputable brokers immediately.
Here are some of the shortcomings of the scalping method in forex trading that Saudi traders need to know:
1. Must be ready to lose
Whatever strategy you will use in trading, of course, losses will always remain. But the point of being ready to lose here is because a scalper cannot stay long in the market when his analysis does not match the price movements that are happening at that time. So there are not a few Saudi scalpers who have to come out and be ready to receive losses. In contrast to other techniques that still have the possibility of profit by letting it float first.
2. Incorrect lot use
Usually, a scalper in Saudi Arabia rarely pays attention to capital management problems to divide the lot in transactions. Of course, this will be very risky to the resilience of the owned capital because it becomes unbalanced. However, this is done because scalpers will not rely on the resilience of their capital but they will rely on truly precise momentum in a very short time.
3. Scalping is not suitable for everyone
Why is that? It’s because to be a scalper in Saudi Arabia, it takes a strong mentality, and you have to be able to control yourself. A scalper is required to be fast in taking steps. Besides, to become a scalper requires sufficient trading experience and knowledge and what is no less important is having good trading psychology. You must remember that because of the high-speed required in scalping, not all traders can become scalpers. Then again, a fast and stable internet connection is required, to make it possible to execute transactions in seconds. You won’t be able to use this strategy if you feel like you don’t have enough time or can’t concentrate fully on your chart.